Australia - Skilled Migration Helps Economic Growth

Recently the minister of Immigration of Australia, Amanda Vanstone, admitted, that  skilled migration has helped the economy to grow while moderating otherwise strong upward pressure on wages and interest rates. 

Without skilled migrants, who she described as the engine room of the economy, Australian jobs would be threatened as business and industry struggled to fill orders and grow, she said.

The minister admitted that skilled migration has grown strongly over the past decade. Australia recorded a net gain from skilled migration last fiscal year ended June 30, 2006, with 113,030 skilled people leaving the country either permanently or long term, compared with 170,260 arrivals, many with key skills in building, engineering, accountancy, nursing and information technology.

A large number of migrants come from  Britain, as well as increasing number from India and China.

According to the fact sheets, provided by Vanstone, skilled migration has helped raise living standards. She believes that the current level of skilled migration is expected to improve the standard of living by A$850/person by 2021.